IBM (NYSE: IBM) is about to receive a rebate of sorts – some $640,000 in property taxes from Durham County.
The county has taken the first steps toward repaying IBM some $640,000 in a tax dispute after losing a court battle. But another $9.3 million is still being disputed in a battle over depreciation of computer equipment, the Durham Herald-Sun reported Tuesday.
The tax fight dates back to 2001.
The North Carolina Court of Appeals ruled against Durham County last year, and the state Supreme Court refused to hear an appeal in December, the paper noted.
On Monday, county commissioners voted to pay $240,240 to cover interest in the 2001 dispute, and a vote next month will focus on paying some $403,013, the Durham County Tax Administrator Kim Simpson told the newspaper.
IBM employs some 10,000 people across North Carolina.
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